Word: crisises
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Congressman Paul Kanjorski, a Democrat from Pennsylvania who heads up the House of Representatives subcommittee that oversees Fannie and Freddie, backs a plan that would break up the firms into as many as 15 smaller companies. As with public utilities, he thinks the government could regulate what these firms could...
Bank regulators were willing to countenance those kinds of risks because their main charge was keeping banks healthy and profitable. A separate consumer agency would presumably be much tougher. It would also probably curtail financial innovation and keep some Americans from getting loans - as banking groups, who like the consumer...
The situation is all the more dangerous and unpredictable because the election and its aftermath appear to have surprised all the major players, forcing them to improvise their responses to a fast-changing situation. President Mahmoud Ahmadinejad and Supreme Leader Ayatullah Ali Khamenei appear to have been taken aback by...
2. A Tehran Tiananmen? The harsh language used by Ahmadinejad and the Revolutionary Guards to describe opposition protests - and their invoking of the specter of an Eastern European-style "velvet revolution" backed by the West - appeared to be generating a narrative that would justify a bloody crackdown, a massive use...
3. Khamenei's "Divine" Retreat? Khamenei blundered when he yoked his position as Supreme Leader - which is typically above the factional fray of the regime's politics - so closely to Ahmadinejad. He issued a barely disguised public endorsement of the candidate and then rushed to proclaim Ahmadinejad's "divine victory...